the laws are so vague that it's hard to determine. i just hope we write this in a way that we end up with the widest, deepest, most transparent capital markets in the world. the regulators came out with their 180 things from around the world. asset managers, central banks, governments -- let's just get it right. at one point, there needs to be a dialogue. >> should most regulation come from the outside door should firms have a large role in self policing? >> regulation should be formed and designed with the practitioners, too. because this crisis they were kept out of the process. that's kind of a mistake. keep the doctors out. of course banks make mistakes. banks should be punished. it would be better to sit down and have the conversations to improve the system and set of people just dumping 5000 pages of rules to try to get what they need. in our great economic ecosystem, there are all different types of entities, big banks. we bank in 50 countries. that's why we're here. we do a lot of things that people cannot do. some of these ru